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OSVAX

Dividend Opportunity Fund

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Overview

The Strategy typically invests in dividend-paying value stocks.

Inception Date
November 26, 2002
Investment Style
Dividend Value
Fund Index
Russell 3000® Value Index
CUSIP
68382H107
NAV
  • B
(as of 02/15/2019)
$23.14
Total Assets
(as of 01/31/2019)
$252.10 MM
Gross Expense Ratio
(as of 01/31/2019)
1.14%
Net Expense Ratio
(as of 01/31/2019)
1.14%
Performance
Average Annual Total Returns
Cumulative Returns
Calendar Year Returns
Capital Gains Distributions
as of 01/31/2019
  • C
as of 12/31/2018
  • C

Include Sales Charge
Include Sales Charge
Include Sales Charge
Include Sales Charge
  • C
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Dividend Opportunity Fund (NAV)
-8.87% -8.87% 5.82% 4.51% 9.95% 7.15%
Russell 3000® Value Index
-8.58% -8.58% 7.01% 5.77% 11.12% -
Cumulative
Annualized
ytd as of 2018-12-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Dividend Opportunity Fund (with sales charge)
-14.11% -14.11% 3.76% 3.28% 9.31% 6.76%
Russell 3000® Value Index
-8.58% -8.58% 7.01% 5.77% 11.12% -
Cumulative
Annualized
ytd as of 2019-01-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Dividend Opportunity Fund (NAV)
7.51% -5.29% 9.85% 7.06% 10.99% 7.59%
Russell 3000® Value Index
8.00% -4.76% 11.79% 8.20% 13.39% -
Cumulative
Annualized
ytd as of 2019-01-31
  • D
1 yr 3 yr 5 yr 10 yr since inception
Dividend Opportunity Fund (with sales charge)
1.32% -10.74% 7.70% 5.80% 10.34% 7.20%
Russell 3000® Value Index
8.00% -4.76% 11.79% 8.20% 13.39% -
Gross Expense Ratio: 1.14% | Net Expense Ratio: 1.14%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.


Year Dividend Opportunity Fund Russell 3000® Value Index
2003 39.67% 31.14%
2004 16.50% 16.94%
2005 9.12% 6.85%
2006 20.46% 22.34%
2007 4.01% -1.01%
2008 -46.94% -36.25%
2009 41.22% 19.76%
2010 19.34% 16.23%
2011 -10.84% -0.10%
2012 11.68% 17.55%
2013 23.45% 32.69%
2014 4.95% 12.70%
2015 0.24% -4.13%
2016 13.67% 18.40%
2017 14.40% 13.19%
2018 -8.87% -8.58%

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.


Date Dividend Opportunity Fund Russell 3000® Value Index MSCI World S&P 500
1/31/2009 0.00 0.00 0.00 0.00
2/28/2009 -11.05 -13.40 -10.24 -10.65
3/31/2009 -2.40 -5.98 -3.47 -2.82
4/30/2009 8.86 4.49 7.36 6.48
5/31/2009 17.31 10.60 17.09 12.44
6/30/2009 18.56 9.83 16.56 12.66
7/31/2009 27.22 19.10 26.43 21.18
8/31/2009 35.04 25.29 31.65 25.56
9/30/2009 40.77 30.24 36.90 30.24
10/31/2009 36.81 25.88 34.46 27.82
11/30/2009 42.34 32.73 39.96 35.49
12/31/2009 44.31 35.67 42.47 38.10
1/31/2010 38.41 31.84 36.58 33.14
2/28/2010 42.73 36.16 38.51 37.26
3/31/2010 53.48 45.23 47.08 45.54
4/30/2010 56.00 49.52 47.10 47.84
5/31/2010 43.26 37.20 33.01 36.04
6/30/2010 34.09 29.12 28.45 28.92
7/31/2010 46.31 37.90 38.87 37.95
8/31/2010 36.94 31.65 33.68 31.72
9/30/2010 50.32 42.16 46.15 43.48
10/31/2010 57.90 46.52 51.60 48.93
11/30/2010 58.11 46.11 48.32 48.95
12/31/2010 72.23 57.68 59.23 58.91
1/31/2011 76.12 60.97 62.83 62.67
2/28/2011 81.07 67.08 68.53 68.25
3/31/2011 82.55 67.88 66.86 68.31
4/30/2011 88.34 72.21 73.95 73.30
5/31/2011 86.02 70.28 70.34 71.34
6/30/2011 80.44 66.73 67.65 68.48
7/31/2011 74.86 61.20 64.61 65.06
8/31/2011 58.32 50.80 53.01 56.09
9/30/2011 41.89 39.00 39.80 45.12
10/31/2011 58.01 55.23 54.26 60.98
11/30/2011 53.58 54.47 50.49 60.62
12/31/2011 53.56 57.52 50.41 62.26
1/31/2012 61.60 63.84 57.95 69.54
2/29/2012 66.77 70.04 65.67 76.87
3/31/2012 69.10 75.10 67.80 82.69
4/30/2012 64.87 73.25 65.89 81.54
5/31/2012 51.98 63.06 51.57 70.63
6/30/2012 57.26 71.14 59.30 77.66
7/31/2012 58.32 72.64 61.35 80.13
8/31/2012 62.65 76.51 65.44 84.18
9/30/2012 67.09 82.16 69.98 88.94
10/31/2012 66.56 81.16 68.83 85.46
11/30/2012 67.83 81.13 70.99 86.53
12/31/2012 71.50 85.17 74.21 88.23
1/31/2013 80.22 97.13 83.08 97.98
2/28/2013 79.79 99.91 83.39 100.67
3/31/2013 86.92 107.86 87.68 108.19
4/30/2013 89.26 110.75 93.59 112.21
5/31/2013 90.85 116.22 93.67 117.17
6/30/2013 87.77 114.39 88.89 114.25
7/31/2013 96.59 126.14 98.84 125.16
8/31/2013 89.26 117.45 94.61 118.63
9/30/2013 96.38 123.46 104.34 125.49
10/31/2013 104.04 133.04 112.34 135.86
11/30/2013 108.08 139.75 116.11 143.04
12/31/2013 111.72 145.69 120.68 149.20
1/31/2014 101.79 136.91 112.51 140.58
2/28/2014 108.26 147.20 123.15 151.59
3/31/2014 111.93 152.87 123.47 153.70
4/30/2014 115.19 154.56 125.76 155.58
5/31/2014 119.11 158.13 130.20 161.58
6/30/2014 124.32 165.23 134.32 166.98
7/31/2014 121.80 159.78 130.58 163.30
8/31/2014 126.84 169.46 135.66 173.83
9/30/2014 121.57 162.92 129.27 169.99
10/31/2014 123.00 169.76 130.75 176.58
11/30/2014 124.55 174.75 135.37 184.02
12/31/2014 122.19 176.89 131.58 183.31
1/31/2015 119.09 165.78 127.38 174.80
2/28/2015 129.30 178.60 140.70 190.60
3/31/2015 127.20 175.47 136.94 186.00
4/30/2015 132.11 177.37 142.49 188.74
5/31/2015 134.24 180.62 143.33 192.46
6/30/2015 127.75 175.48 137.67 186.80
7/31/2015 131.91 175.96 141.94 192.80
8/31/2015 119.77 159.75 125.93 175.14
9/30/2015 113.59 151.82 117.59 168.33
10/31/2015 128.53 170.42 134.84 190.97
11/30/2015 127.85 171.98 133.67 191.83
12/31/2015 122.73 165.45 129.56 187.23
1/31/2016 114.07 151.41 115.83 172.97
2/29/2016 112.48 151.49 114.22 172.61
3/31/2016 127.05 169.81 128.76 191.10
4/30/2016 131.52 175.48 132.38 192.23
5/31/2016 132.67 179.82 133.68 197.48
6/30/2016 134.91 182.13 131.06 198.25
7/31/2016 142.53 190.84 140.83 209.24
8/31/2016 142.87 193.45 141.03 209.68
9/30/2016 143.72 193.06 142.31 209.74
10/31/2016 140.00 188.14 137.62 204.09
11/30/2016 149.53 206.24 141.03 215.35
12/31/2016 153.17 214.29 146.80 221.58
1/31/2017 155.05 216.16 152.76 227.68
2/28/2017 162.56 226.98 159.77 240.69
3/31/2017 161.95 223.69 162.54 241.09
4/30/2017 162.54 223.23 166.42 244.59
5/31/2017 163.37 222.14 172.06 249.44
6/30/2017 166.53 227.86 173.11 251.62
7/31/2017 169.62 232.05 179.64 258.85
8/31/2017 166.53 227.86 180.04 259.95
9/30/2017 173.89 238.57 186.32 267.38
10/31/2017 178.91 240.87 191.73 275.95
11/30/2017 184.05 251.26 198.06 287.48
12/31/2017 189.63 255.76 202.09 291.79
1/31/2018 199.61 268.82 218.04 314.22
2/28/2018 187.35 251.14 204.86 298.95
3/31/2018 183.15 245.72 198.22 288.81
4/30/2018 186.90 247.23 201.64 290.30
5/31/2018 187.75 250.66 203.53 299.70
6/30/2018 186.34 251.64 203.39 302.16
7/31/2018 194.61 264.96 212.86 317.13
8/31/2018 195.58 270.61 216.73 330.72
9/30/2018 198.73 270.59 218.50 333.17
10/31/2018 182.59 250.36 195.11 303.57
11/30/2018 189.07 260.48 198.46 311.79
12/31/2018 163.95 225.24 175.77 274.61
1/31/2019 183.76 251.26 197.23 304.63
Date Dividends
12/14/2009 0.1394
12/14/2011 0.0471
12/12/2012 0.0968
12/5/2013 0.2441
12/30/2013 0.0512
3/19/2014 0.1372
6/18/2014 0.1585
9/17/2014 0.1413
12/2/2014 0.1182
3/17/2015 0.1294
6/16/2015 0.1312
9/22/2015 0.1314
12/1/2015 0.121
3/22/2016 0.1297
6/21/2016 0.1354
9/20/2016 0.1408
12/1/2016 0.2201
3/21/2017 0.137
6/20/2017 0.1379
9/19/2017 0.1378
12/1/2017 0.1341
3/20/2018 0.1321
6/19/2018 0.1356
9/18/2018 0.1382
12/10/2018 0.1634

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 02/17/2019

Date 2014 2015 2016 2017 2018
Short Term 0.0364
Long Term 0.3644
Total Amount of Distribution 0.4009
Record Date 12/7/18
Ex Div Date 12/10/18
Pay Date 12/10/18

There is no guarantee of the payment of any dividend or other distributions at any level.

Portfolio

Top Issuers

(48.1% of assets as of 01/31/2019)


Portfolio Holdings Breakdown

Country
Developed Markets
Emerging Markets
Equity Sector
Industry
Asset Allocation
Market Cap 6
Country Dividend Opportunity Fund Russell 3000® Value Index Overweight / Underweight
United States 69.0% 99.7% -30.7%
United Kingdom 9.2% - -
Japan 4.2% - -
Canada 3.8% 0.0% 3.7%
Switzerland 1.9% - -
Australia 1.5% - -
Netherlands 1.3% 0.2% 1.1%
Germany 0.9% - -
Spain 0.7% - -
France 0.5% - -
Portugal 0.5% - -
Finland 0.5% - -
Italy 0.4% - -
Taiwan 0.2% - -
Developed Markets Dividend Opportunity Fund Russell 3000® Value Index Overweight / Underweight
Americas 72.8% 99.7% -26.9%
Europe 15.9% 0.2% 15.6%
Asia Pacific 5.7% - -
Emerging Markets Dividend Opportunity Fund Russell 3000® Value Index Overweight / Underweight
Asia Pacific 0.2% 0.1% 0.1%
Equity Sector Dividend Opportunity Fund Russell 3000® Value Index Overweight / Underweight
Financials 15.3% 23.2% -7.8%
Energy 14.2% 9.3% 4.9%
Health Care 13.2% 14.4% -1.1%
Information Technology 9.8% 9.4% 0.4%
Consumer Staples 8.3% 7.4% 0.9%
Industrials 7.9% 8.0% 0.0%
Consumer Discretionary 6.6% 5.6% 1.0%
Communication Services 6.0% 6.8% -0.7%
Real Estate 4.7% 5.6% -0.9%
Utilities 4.6% 6.3% -1.7%
Materials 3.8% 4.0% -0.2%
Industry Dividend Opportunity Fund Russell 3000® Value Index Overweight / Underweight
Oil Gas & Consumable Fuels 13.9% 8.4% 5.5%
Banks 9.8% 11.6% -1.8%
Pharmaceuticals 9.5% 6.5% 3.0%
Diversified Telecommunication Services 5.4% 3.4% 2.0%
Equity Real Estate Investment Trusts (REITs) 4.7% 5.5% -0.7%
Electric Utilities 4.6% 3.6% 1.0%
Communications Equipment 3.5% 2.0% 1.4%
Beverages 3.4% 0.5% 2.9%
Automobiles 2.9% 0.7% 2.2%
Health Care Providers & Services 2.7% 2.4% 0.3%
Metals & Mining 2.4% 0.7% 1.7%
Software 2.4% 1.5% 0.9%
Capital Markets 2.4% 3.0% -0.6%
Tobacco 2.2% 0.9% 1.3%
Insurance 2.1% 4.2% -2.1%
Multiline Retail 1.8% 0.6% 1.2%
Aerospace & Defense 1.8% 1.4% 0.4%
Trading Companies & Distributors 1.8% 0.2% 1.6%
Food & Staples Retailing 1.7% 1.7% 0.0%
Electrical Equipment 1.5% 0.6% 0.9%
Asset Allocation Dividend Opportunity Fund Russell 3000® Value Index Overweight / Underweight
Equity 94.5% 100.0% -5.5%
Market Cap Dividend Opportunity Fund Russell 3000® Value Index Overweight / Underweight
Large 83.3% 73.6% 9.7%
Mid 6.6% 20.1% -13.5%
Small 4.3% 6.3% -2.0%
Analytics
(As of 01/31/2019)

Morningstar 01/31/2019 (based on risk adjusted performance)
Overall Rating
Number of Funds
1104
Category
Large Value
Performance Statistics
3Y
5Y
Alpha
-0.46
0.02
Beta
0.86
0.84
Information Ratio
-0.72
-0.35
R-Squared
95.20
92.55
Sharpe Ratio
0.86
0.66
Standard Deviation
10.13
9.94
Upside Capture
81.70
82.43
Downside Capture
79.12
80.03
Sortino Ratio
1.31
1.02
Win Ratio
47.00
48.00
Loss Ratio
53.00
52.00
Tracking Error
2.72
3.25
Yields
Dividend Yield (with sales charge)
2.78%
Dividend Yield (w/o sales charge)
2.95%
Standardized Yield
2.37%
Unsubsidized Yield
2.35%
Portfolio Characteristics
Fund
Fund Index
Average Market Cap (weighted)
$127.87 B
$112.09 B
Median Market Cap (weighted)
$83.71 B
$56.10 B
P/E Ratio (LTM)
14.41
15.73
P/E Ratio (NTM)
12.42
13.73
Price/Book
2.04
1.98
Return on Equity
13.70%
12.38%
Turnover Ratio
63%
-
Active Share
78.89%
-
Dividends
  • E
Est. Frequency
Quarterly
Last Pay Date
12/10/2018
Per Share ($)
$0.1634
12-Month Distribution ($)
$0.5693
Distribution Sources
  • E
Net Income
19.70%
Net Profit from Sale
72.10%
Other Capital Sources
8.20%
Documents
  1. 1. Effective on 12/11/13, the Fund mainly invests in dividend paying stocks that the portfolio manager believes are undervalued.  Performance prior to 12/11/13 is not indicative of performance for any subsequent periods.
  2. 2. There is no guarantee that the issuers of stocks will declare dividends in the future, or that dividends will remain at their current levels or increase over time. Value investing involves the risk that undervalued securities may not appreciate as anticipated. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile.
  3. 3. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less.  These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  4. 4. The Russell 3000® Value Index measures the performance of the broad value segment of the U.S. equity universe. It includes those Russell 3000 companies with lower price-to-book ratios and lower forecasted growth values. The index is unmanaged and cannot be purchased directly by investors.   Index performance is shown for illustrative purposes only and does not predict or depict performance of the Fund. Past performance does not guarantee future results.
  5. 5. Holdings are subject to change, and are dollar weighted based on total new assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the Fund’s net asset value and fluctuations of dividends and distributions paid by the Fund.
  6. 6. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund's prospectus.
  7. 7. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end.  The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date.  For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date.  Each result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  8. 8. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes).  The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized.  Falling share prices artificially increase yields.
  9. A. The Morningstar Rating&trade; for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. <b>The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.</b> The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not consider sales charges and are subject to change monthly. <strong>Past performance is no guarantee of future results</strong></p>
  10. B. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
  11. C. The performance data quoted represents past performance, which does not guarantee future results.  The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost.  Current performance and expense ratios may be lower or higher than the data quoted.  Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated.  Returns do not consider capital gains or income taxes on an individual's investment.
  12. D. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund).  These returns would be lower if sales charges were taken into consideration.  Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
  13. E. There is no guarantee of the payment of any dividend or other distributions at any level.
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